Challenger Job Cuts Report for NOVEMBER 2025

The global outplacement consultancy Challenger, Gray and Christmas, Inc. released its job cuts report, for November, 2025:

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Job Cuts Announced During November 2025: 71,321

• Previous Month: 153,074

  > Change from previous month: -53.41% (-81,753 cuts)

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• One-Year Previous: 57,727

 > Change from one-year previous: +23.55% (+13,594 cuts)

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From Today's Report:

"...WHY ARE COMPANIES CUTTING IN 2025?

In November, Restructuring led all reasons with 20,217 for a total of 128,255 in 2025. Store, unit, or department Closing accounted for 17,140 in November, and 178,531 for the year.

Artificial Intelligence (AI) was cited for 6,280 cuts in November. So far this year, AI is responsible for 54,694 layoff plans. Since 2023, when this reason was first cited, AI has led to 71,683 job cut announcements.

Market and Economic Conditions were cited for 15,755 job cuts in November. So far this year, 245,086 job cuts have been attributed to market and/or economic conditions. Tariffs have been cited for 7,908 job cuts this year with 2,061 occurring in November.

Though the Department of Government Efficiency (DOGE) has not been the cause of job cut announcements in two months, “DOGE Impact” remains the leading reason for job cut announcements in 2025, cited in 293,753 planned layoffs so far this year. This includes direct reductions to the Federal workforce and its contractors.

An additional 20,976 cuts have been attributed to DOGE Downstream Impact, which reflects the loss of federal funding to private and non-profit entities..."

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If corporate layoffs are high, consumer spending may decline, since there would be fewer people with steady jobs.

When corporate layoffs are low, this can mean that the job market is relatively tight, which can be a harbinger of wage inflation.

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 Job Cuts - Month-by-Month Totals
NOVEMBER 2025 UPDATE
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Challenger Job Cuts Report for SEPTEMBER 2025

The global outplacement consultancy Challenger, Gray and Christmas, Inc. released its job cuts report, for September, 2025:

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Job Cuts Announced During September 2025: 54,064

• Previous Month: 85,979

  > Change from previous month: -37.12% (-31,915 cuts)

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• One-Year Previous: 72,821

 > Change from one-year previous: -25.76% (-18,757 cuts)

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From Today's Report:

"...WHY ARE COMPANIES CUTTING [JOBS] IN 2025?

'DOGE Actions' remains the leading reason for job cut announcements in 2025, cited in 293,753 planned layoffs so far this year. This includes direct reductions to the Federal workforce and its contractors. An additional 20,976 cuts have been attributed to DOGE Downstream Impact, such as the loss of funding to private non-profits and affiliated organizations.

Market and Economic Conditions are the second-most cited reason for workforce reductions, responsible for 208,227 cuts year to date. This reflects employers’ continued response to economic uncertainty, inflation, tariffs, and shifting demand across sectors.

Closings of stores, units, or plants have led to 144,652 layoffs so far this year, up from 97,590 during the same period last year. Restructuring efforts have resulted in 100,450 job cuts, while Bankruptcies accounted for another 37,590 layoffs, up from 10,700 through September 2024.

Technological Updates, including automation and possibly AI implementation, have led to 20,219 job cuts in 2025. Another 17,375 were explicitly attributed to Artificial Intelligence, including 7,000 announced in September..."

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If corporate layoffs are high, consumer spending may decline, since there would be fewer people with steady jobs.

When corporate layoffs are low, this can mean that the job market is relatively tight, which can be a harbinger of wage inflation.

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CHART: Announced Job Cuts
July 2022 THRU September 2025
Copyright © Challenger, Gray and Christmas, Inc.

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Job Cuts - Month-by-Month Totals
SEPTEMBER 2025 UPDATE
Copyright © Challenger, Gray and Christmas, Inc.

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Challenger Job Cuts Report for MAY 2025

The global outplacement consultancy Challenger, Gray and Christmas, Inc. released its job cuts report, for May 2025:

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Job Cuts Announced During May 2025: 93,816

• Previous Month: 105,441

  > Change from previous month: -11.03% (-11,625 cuts)

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• One-Year Previous: 63,816

 > Change from one-year previous: +47.01% (+30,000 cuts)

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From Today's Report:

"...'Tariffs, funding cuts, consumer spending, and overall economic pessimism are putting intense pressure on companies’ workforces. Companies are spending less, slowing hiring, and sending layoff notices,' said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas.

Why are Companies Cutting in 2025?

'DOGE Impact' remains the leading reason for job cut announcements in 2025, cited in 284,044 planned layoffs so far this year. This includes direct reductions to the Federal workforce and its contractors. Additionally, DOGE Downstream Impact, such as the loss of funding to private Non-Profits, was cited in another 10,459 cuts.

Market and Economic Conditions were the second-most cited reason for workforce reductions, responsible for 131,257 cuts year to date, followed by Closings of stores, units, or plants, which led to 94,439 layoffs.

Restructuring accounted for 62,015 cuts, while Bankruptcy was attributed to 35,501. Notably, Technological Updates, including those related to AI implementation, led to 20,000 job cuts so far in 2025..."

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If corporate layoffs are high, consumer spending may decline, since there would be fewer people with steady jobs.

When corporate layoffs are low, this can mean that the job market is relatively tight, which can be a harbinger of wage inflation.

================

Job Cuts - Month-by-Month Totals
MAY 2025 UPDATE
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Challenger Job Cuts Report for April 2025

The global outplacement consultancy Challenger, Gray and Christmas, Inc. released its job cuts report, for April 2025:

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Job Cuts Announced During April 2025: 105,441

• Previous Month: 275,240

  > Change from previous month: -61.69% (-169,799 cuts)

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• One-Year Previous: 64,789
  

 > Change from one-year previous: +62.75% (+40,652 cuts)

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From Today's Report:

"...So far this year, employers have announced 602,493, the highest year-to-date total since 2020 when 1,017,812 job cuts were recorded. It is up 87% from the 322,043 cuts announced during the same period in 2024.

The Government leads all sectors in job cuts this year with 282,227, 281,452 of which are attributed to DOGE-related cost-cutting. This is up 680% from the 36,195 job cuts announced in this sector through April 2024.

In April, the number of job cuts announced in this industry was 2,782. DOGE actions were attributed to 2,731, while the rest were attributed to 'Economic Conditions' and 'Cost-Cutting.'

'DOGE Actions'  lead all job cut reasons in 2025 with 283,172, 2,919 of which occurred in April. Another 6,945 cuts were attributed to 'DOGE Downstream Impact' through April, primarily at Non-Profits and Education organizations. These reasons combined (290,117) make up 48% of all job cuts announced so far in 2025..."

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If corporate layoffs are high, consumer spending may decline, since there would be fewer people with steady jobs.

When corporate layoffs are low, this can mean that the job market is relatively tight, which can be a harbinger of wage inflation.

================

Challenger Report - Announced Jobs Cuts
APRIL 2025 UPDATE
Copyright © Challenger, Gray and Christmas, Inc.

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Job Cuts by Reason - USA
APRIL 2025 UPDATE
Copyright © Challenger, Gray and Christmas, Inc.

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Challenger Job Cuts Report for March 2025

The global outplacement consultancy Challenger, Gray and Christmas, Inc. released its job cuts report, for March 2025:

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Job Cuts Announced During March 2025: 275,240

• Previous Month: 172,017

 > Change from previous month: +60.00% (+103,223 cuts)

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• One-Year Previous: 90,309
  

> Change from one-year previous: +204.76% (+184,931 cuts)

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From Today's Report:

"...'Job cut announcements were dominated last month by Department of Government Efficiency [DOGE] plans to eliminate positions in the federal government. It would have otherwise been a fairly quiet month for layoffs,' Andrew Challenger, Senior Vice President and workplace expert for Challenger, Gray & Christmas.

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Government & DOGE

The Government led all sectors in job cuts in March with 216,215, all of which occurred in the federal government. So far this year, the Government has cut 279,445, an increase of 672% from the 36,195 cuts announced in the first quarter of 2024.

In March of 2024, the previous administration announced plans to cut 10,000 from the Veterans Affairs and 24,000 from the United States Army. Prior to March 2024, the highest monthly total for the sector occurred in September 2011, when Government entities cut 54,182, primarily on an announcement to cut 50,000 positions in the U.S. Army. This sector cut a total of 15,584 cuts between 2021 and 2023 after cutting 78,323 jobs in all of 2020. Unlike March 2025, these cuts were a mixture of federal, state, and local government positions.

Why are Companies Cutting?

'DOGE Impact' leads job cut reasons this year with 280,253, 216,670 in March. Market/Economic Conditions followed with 47,851 job cuts attributed to this reason in the first quarter.

Another 45,761 job cuts were attributed to store, unit, or department Closing. Restructuring accounted for 39,396, while Bankruptcy was the reason for 35,501. Just 63 layoffs have been attributed specifically to tariffs so far this year, all in the Retail sector...."

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If corporate layoffs are high, consumer spending may decline, since there would be fewer people with steady jobs.

When corporate layoffs are low, this can mean that the job market is relatively tight, which can be a harbinger of wage inflation.

================

Challenger Report - Announced Jobs Cuts
MARCH 2025 UPDATE

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Job Cuts by Reason - USA
MARCH 2025 UPDATE

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Challenger Job Cuts Report for February 2025

The global outplacement consultancy Challenger, Gray and Christmas, Inc. released its job cuts report, for February 2025:

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Job Cuts Announced During February 2025: 172,017

• Previous Month: 49,795
  

 > Change from previous month: +245.45% (+122,222 cuts)

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• One-Year Previous: 84,638
  

> Change from one-year previous: +103.24% (+87,379 cuts)

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From Today's Report:

"...So far this year, employers have announced 221,812 job cuts, the highest year-to-date (YTD) total since 2009 when 428,099 job cuts were planned. It is up 33% from the 166,945 cuts announced during the same period in 2024.

'Private companies announced plans to shed thousands of jobs last month, particularly in Retail and Technology. With the impact of the Department of Government Efficiency [DOGE] actions, as well as canceled Government contracts, fear of trade wars, and bankruptcies, job cuts soared in February,' said Andrew Challenger, Senior Vice President and workplace expert for Challenger, Gray & Christmas..."

If corporate layoffs are high, consumer spending may decline, since there would be fewer people with steady jobs.

When corporate layoffs are low, this can mean that the job market is relatively tight, which can be a harbinger of wage inflation.

================

Challenger Report - Announced Jobs Cuts
February 2025 UPDATE

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Job Cuts by Reason - USA
February 2025 UPDATE

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Job Cuts: Month-by-Month Totals
February 2025 UPDATE

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